Bridgeway Capital Management Inc. Acquires 24,400 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

Bridgeway Capital Management Inc. boosted its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 591,600 shares of the utilities provider’s stock after buying an additional 24,400 shares during the period. Bridgeway Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $29,083,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Elmwood Wealth Management Inc. bought a new stake in Public Service Enterprise Group during the first quarter valued at $25,000. Balentine LLC bought a new stake in Public Service Enterprise Group during the first quarter valued at $28,000. Thompson Siegel & Walmsley LLC purchased a new stake in Public Service Enterprise Group during the second quarter valued at about $39,000. Campbell Wealth Management purchased a new stake in Public Service Enterprise Group during the second quarter valued at about $41,000. Finally, Truehand Inc purchased a new stake in Public Service Enterprise Group during the second quarter valued at about $44,000. 68.23% of the stock is owned by institutional investors.

Public Service Enterprise Group stock traded down $0.83 during trading hours on Tuesday, hitting $51.65. 1,422,200 shares of the stock traded hands, compared to its average volume of 2,961,266. The firm’s 50-day moving average price is $53.61 and its two-hundred day moving average price is $50.50. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.88. The company has a market cap of $26.54 billion, a PE ratio of 15.33, a PEG ratio of 6.41 and a beta of 0.54. Public Service Enterprise Group Inc. has a one year low of $34.75 and a one year high of $63.88.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.19. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Public Service Enterprise Group had a return on equity of 11.52% and a net margin of 18.09%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. On average, sell-side analysts expect that Public Service Enterprise Group Inc. will post 3.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.96 annualized dividend and a yield of 3.79%. Public Service Enterprise Group’s payout ratio is 59.76%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,919 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $55.05, for a total transaction of $105,640.95. Following the sale, the chief operating officer now directly owns 88,766 shares of the company’s stock, valued at approximately $4,886,568.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 6,357 shares of company stock worth $345,959. Insiders own 0.48% of the company’s stock.

Several research analysts have recently commented on the company. Barclays lifted their price objective on Public Service Enterprise Group from $53.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. BofA Securities downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $57.00 in a report on Tuesday, July 21st. Seaport Global Securities assumed coverage on Public Service Enterprise Group in a report on Wednesday, May 20th. They issued a “neutral” rating on the stock. UBS Group decreased their price objective on Public Service Enterprise Group from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Finally, Morgan Stanley boosted their price target on Public Service Enterprise Group from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $61.77.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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